Your Garage botysf16 Amazon Fashion Learn more Discover it Eli Paperboy Fire TV Stick Subscribe & Save Patriotic Picks Shop-by-Room Amazon Cash Back Offer WienerDog WienerDog WienerDog  Amazon Echo  Echo Dot  Amazon Tap  Echo Dot  Amazon Tap  Amazon Echo Introducing new colors All-New Kindle Oasis Segway miniPro
Customer Review

26 of 29 people found the following review helpful
5.0 out of 5 stars Argues that trust (or its absence) shapes economies., January 17, 1999
By A Customer
This review is from: Trust: The Social Virtues and the Creation of Prosperity (Hardcover)
The author divides societies into two classes: high trust and low trust. High-trust societies form volunteer and meritocratic organizations that expand in scope and efficiency to reach optimum economies of scale. These commercial and non-profit organizations (which are not dependent on family ties) create a network of efficiencies that benefit commerce, media communication and social change.
Low-trust societies, in contrast, rely on the extended family to build commercial, social and political networks. The trouble with the extended-family approach to economic development is that all families will soon run out of blood-line managerial, scientific, literary or artistic talent. The Latin Catholic and Chinese cultures are described as low-trust societies.
One conclusion to this analysis is that it is the lack of trust in society that forces developing countries to have large government organizations. In countries such as Mexico, the lack of trust in the players and in the notion of market efficiency itself leads to the creation and perpetuation of state monopolies.
The author wonders if trust in the American society is declining, to judge, at least, by the rising number of guarded residential compounds. The Clinton impeachment trial, from one lens, is about the threat to trust in public life. According to the model, if trust declines, so too will economic prosperity.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No

Be the first person to comment on this review.

[Add comment]
Post a comment
To insert a product link use the format: [[ASIN:ASIN product-title]] (What's this?)
Amazon will display this name with all your submissions, including reviews and discussion posts. (Learn more)
Name:
Badge:
This badge will be assigned to you and will appear along with your name.
There was an error. Please try again.
Please see the full guidelines here.

Official Comment

As a representative of this product you can post one Official Comment on this review. It will appear immediately below the review wherever it is displayed.   Learn more
The following name and badge will be shown with this comment:
 (edit name)
After clicking the Post button you will be asked to create your public name, which will be shown with all your contributions.

Is this your product?

If you are the author, artist, manufacturer or an official representative of this product, you can post an Official Comment on this review. It will appear immediately below the review wherever it is displayed.  Learn more
Otherwise, you can still post a regular comment on this review.

Is this your product?

If you are the author, artist, manufacturer or an official representative of this product, you can post an Official Comment on this review. It will appear immediately below the review wherever it is displayed.   Learn more
 
System timed out

We were unable to verify whether you represent the product. Please try again later, or retry now. Otherwise you can post a regular comment.

Since you previously posted an Official Comment, this comment will appear in the comment section below. You also have the option to edit your Official Comment.   Learn more
The maximum number of Official Comments have been posted. This comment will appear in the comment section below.   Learn more
Prompts for sign-in
  [Cancel]